Tempest Minerals reveals major discovery

Tempest Minerals (ASX:TEM) has announced a major discovery of a high-grade magnetite deposit at the Remorse Prospect, part of their Yalgoo Project in Western Australia. Recent drilling revealed thick, high-grade iron deposits over several kilometers, enhancing the project's value due to its strategic location near processing infrastructure.

Tempest Minerals future outlook and plans

Tempest Minerals has identified a high-grade magnetite deposit at the Remorse Prospect, with promising drill results showing iron grades of up to 39%. The estimated tonnage ranges from 50 to 110 million tonnes, though further exploration is needed for a definitive resource estimate. The company plans to conduct metallurgical tests and further drilling, starting in early 2025. Located near significant infrastructure, the Yalgoo Project holds strategic advantages that could expedite development. Tempest Minerals aims to leverage this discovery to enhance shareholder value through systematic exploration and development strategies.

Executive insights on magnetite discovery

The discovery of a high-grade magnetite deposit at Remorse Prospect is a significant milestone for Tempest Minerals. This adds substantial value to our Yalgoo Project, which is strategically located near existing infrastructure and multiple iron ore operations. We are excited about the potential of this discovery and are committed to advancing our exploration efforts.